Bank of Georgia Group PLC announces that on 28 March 2024, Moody’s Investors Service (“Moody’s”) affirmed JSC Bank of Georgia’s Ba2 long-term local and foreign currency deposit ratings and revised the outlook from negative to stable. This follows Moody’s recent amendment of Georgia’s sovereign outlook from negative to stable.

Moody’s also upgraded the Bank’s Baseline Credit Assessment and Adjusted Baseline Credit Assessment to Ba2 from Ba3, reflecting the Bank’s strong performance over the past 24 months.

Furthermore, adjustments were made to the Bank’s long-term Counterparty Risk Rating (CRR) and long-term Counterparty Risk Assessment (CRA), which now stand at Ba1(cr), indicating an improvement by one notch.